US: Senate On Track To Confirm All Of Trump Executive Nominees
The Senate is on track to confirm two more of Trump’s Cabinet nominees this week - Scott Turner to lead the Department of Housing and Urban Development and Russell Vought to lead the Office of Management and Budget.
- If the two are confirmed, the Senate will have confirmed 13 Cabinet members within the first three weeks of Trump’s second term – eclipsing the confirmation speed of his first term and that of former President Joe Biden’s term.
- Politico writes: “The firehose of news from the White House risks obscuring what ranks as one of President Donald Trump’s most stunning feats: This was the week that he finally broke the Senate,” allowing for the confirmation of Cabinet officials, “who once would have seemed unimaginable for their posts.”
- Axios notes: “All of President Trump's nominees for the most senior positions in government are on track to get confirmed — a rarity for any modern president, and a particular coup for Trump and his cast of "destroyers."
- Axios has published a useful guide to the status of Trump’s Cabinet nominees here.
- Bettors at Polymarket now consider every Trump nominee close to a 100% implied probability of confirmation.
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GBPUSD TECHS: Bearish Trend Sequence Remains Intact
- RES 4: 1.2874 High Nov 12
- RES 3: 1.2811 High Dec 6 and key resistance
- RES 2: 1.2698 50-day EMA
- RES 1: 1.2562 20-day EMA
- PRICE: 1.2518 @ 18:29 GMT Jan 6
- SUP 1: 1.2353 Low Jan 2
- SUP 2: 1.2300 Low Apr 22 2024
- SUP 3: 1.2277 2.0% 10-dma envelope
- SUP 4: 1.2266 Low Nov 14 2023
The sharp sell-off in GBPUSD last Thursday confirmed a resumption of the medium-term downtrend. The move lower maintains the bearish price sequence of lower lows and lower highs and note that moving average studies are in a bear-mode position, highlighting a clear downtrend. Monday’s strong gains are - for now - considered corrective. Initial firm resistance is at 1.2562, the 20-day EMA. The bear trigger is 1.2353, the Jan 2 low.
STIR FUTURES: Buyer Red Mar'26 SOFR Includes Block
- +17,000 SFRH6 96.015 (-0.015) Block at 1402:11ET (DV01 $425k) with additional +20,000 on screen in the last few minutes. The Red Mar'26 trade 96.02 last
EURUSD TECHS: Corrective Bounce
- RES 4: 1.0825 High Nov 7
- RES 3: 1.0630 High Dec 06
- RES 2: 1.0543 50-day EMA
- RES 1: 1.0458 High Dec 30
- PRICE: 1.0382 @ 18:17 GMT Jan 6
- SUP 1: 1.0226 Low Jan 2
- SUP 2: 1.0201 61.8% of the Sep ‘22 - Jul ‘23 bull leg
- SUP 3: 1.0198 3.0% Lower Bollinger Band
- SUP 4: 1.0167 2.0% 10-dma envelope
The trend condition in EURUSD remains bearish and Monday’s strong gains are - for now - considered corrective. Last Thursday’s sharp sell-off reinforces current conditions and note too that moving average studies remain in a bear-mode position, highlighting a dominant downtrend. The 20-day EMA, at 1.0414, has been pierced. The next resistance to watch is 1.0458, the Dec 30 high. The bear trigger has been defined at 1.0226, the Jan 2 low
